R G SOFTDRINKS P LIMITED Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) The present appeal is filed against the order dated 14th January, 2003 passed by the learned Company Judge whereby the Company Application filed by the respondent No.2 herein was allowed to the extent indicated in the said order. The said application was filed by the respondent No.2 herein under Rule 9 of the Company Court Rules seeking that the land covered under plot Nos.7,8,13,14 and 15, UPSIDC Industrial Area No.1, Sultanpur Road, Rai Bareli, Uttar Pradesh be released from attachment. On consideration of the said application and on perusal of records, the learned Single Judge allowed the same by giving detailed reasons with a direction that the Official Liquidator would release the aforesaid land in favour of the applicant- respondent No.2 effective from 25th February, 2003.

(2.) The appellant company is represented by its ex-President who has appeared in person and challenged the legality of the aforesaid order on the ground that respondent No.2 had no locus standi to file the aforesaid application in the aforesaid winding up proceeding. It was also argued before us that the learned Company Judge acted illegally and without jurisdiction in passing the impugned order directing for release of the property.

(3.) In the light of the submission made before us, we heard the learned counsel for the respondents and also perused the entire records placed before us.